© Dukascopy Bank SA
- Bank of New York (based on Bloomberg)
Pair's Outlook
GBP/USD continues to hover just below the Jan high at 1.6390, but should be able to overcome this level eventually, considering that most of the daily technical indicators have turned bullish. Prior to that, however, the currency pair may retreat to one of the major trend-lines at 1.6229/04. There the support is strengthened by the monthly PP, weekly S1 and 20-day SMA.
Traders' Sentiment
An increase of interest in the Sterling proved to be temporary, being that the portion of bulls in GBP/USD has already declined by four percentage points to 30% since the previous report. On average the share of longs in crosses of the Pound plummeted from 35% to 27%.
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